Bankers Life Securities

There are Recent Customer Complaints with Broker Ioan Grigor in Firm Bankers Life Securities, INC.

April 30, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ioan Grigor (Grigor), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Grigor recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $3,602.00 on June 22, 2020.

In a written complaint, dated June 18, 2020, addressed to Bankers Life and Casualty Company (BLC), an insurance company affiliate of the Firm and received by the Firm on June 22, 2020, complainants alleged that a Long Term Health Care (LTC) policy purchased from BLC in 2013 was changed without their knowledge or consent and the initials on the policy change were forged. In the same complaint, it was also alleged that a Jackson National Variable Annuity purchased through Bankers Life Securities, Inc. in August of 2019 was unsuitable and contrary to their investment objectives and risk tolerance. On June 24, 2020, the complainants sent a rescission letter stating that the financial representative did not mislead them as to their investments and they had no complaints related to their investments made with the financial representative. Although the Firm’s affiliated company, BLC found no affirmative finding of forgery and closed as they did not find the complaint was actionable, the decision was made to settle the LTC Policy claim with the client. The financial representative was not involved, nor had any say in the decision to settle the dispute. BLC acted on what it believed, to be in its best interest, to settle the dispute.

There are Recent Customer Complaints with Broker George Jacobs in Firm Bankers Life Securities, INC.

April 15, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker George Jacobs (Jacobs), previously associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Jacobs recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $34,313.00 on January 20, 2021.

The Firm received a written complaint on January 20, 2021, addressed to Bankers Life and Casualty Company (BLC), an insurance company affiliate of the Firm, signed jointly by the clients and an investment adviser representative of an unaffiliated firm. The complaint alleges that a financial representative of the Firm made unsuitable recommendations to the clients to liquidate securities in the clients’ accounts to purchase fixed-index annuities, issued by BLC. Clients requested to be released from the BLC annuities without surrender fees or penalties. BLC entered into a Settlement and Release and allowed the clients to cancel their annuities without the assessment of surrender charges. While the BLC annuities sold to the clients were not securities and were issued by BLC, the Firm is reporting this complaint because the source of funding for the annuities came from the sale of securities recommended by a financial representative of the Firm.

Broker Timothy Darnell in Bankers Life Securities, INC. Firm Has Customer Complaint

April 6, 2026 | by Staff Attorney

The law offices of Gana Weinstein LLP are currently investigating claims that Broker Timothy Darnell (Darnell) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Darnell was employed by Bankers Life Securities, INC. at the time of the activity. If you have been a victim of Darnell’s alleged misconduct our firm may be able to assist you in recovering funds.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $575,000.00 on February 04, 2026.

The arbitration alleges the RR made unsuitable recommendations, alleges breach of fiduciary duty, negligence, misrepresentation, and selling away related to an alleged Ponzi scheme with First Liberty Building & Loan, LLC.

There are Recent Customer Complaints with Broker Adam Rutstein in Firm Bankers Life Securities, INC.

March 28, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Adam Rutstein (Rutstein), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Rutstein recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $15,670.00 on September 25, 2020.

In a written complaint, received by the Firm on September 25, 2020, complainant alleged, based on the recommendation of a Financial Representative of the Firm in November 2019, she exchanged an annuity with an outside institution to open a securities account with the Firm in November of 2019 and, as a result of the recommended exchange, she incurred an unexpected tax liability. Client alleged that the Financial Representative told her the exchange would not result in a taxable event. The client requested to be reimbursed for the tax liability incurred as a result of the exchange. BLS reached a settlement with the client as the result of this complaint.

Broker Richard George in Bankers Life Securities, INC. Firm Has Customer Complaint

February 23, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard George (George), currently associated with Bankers Life Securities, INC., has at least 8 disclosable events. These events include 8 customer complaints, alleging that George recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on April 06, 2021.

Client alleged unsuitability with respect to investment in advisory- 01/02/2018 to 07/20/2019.

There are Recent Customer Complaints with Broker Glenn Flessas in Firm Bankers Life Securities, INC.

February 20, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Glenn Flessas (Flessas), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Flessas recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $11,634.00 on April 26, 2021.

In a written complaint received on April 26, 2021, addressed to Bankers Life and Casualty Company (BLC), an insurance company affiliate of the Firm, client alleged that he was not aware of restrictions pertaining to access of the money used to fund a Premium Bonus Indexed Annuity (PBIA) which was purchased from BLC in October of 2020 and requested a full refund. BLC determined that the PBIA was consistent with the client’s stated financial goals, but released the full amount back to the client without penalty. While the annuity sold to client was not a security and was issued by BLC, the Firm is reporting this complaint because the source of funding for the BLC annuity came from the sale of securities recommended by a registered representative of this Firm.

There are Recent Customer Complaints with Broker Myles Easter in Firm Bankers Life Securities, INC.

February 16, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Myles Easter (Easter), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Easter recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a award / judgment customer complaint with a damage request of $50,000.00 on May 17, 2021.

In a Statement of Claim for Arbitration filed with FINRA and received by Bankers Life Securities, Inc. (Firm) on May 17, 2021, client named the financial representative, Myles Easter, as a Respondent and alleged that Mr. Easter made misrepresentations to induce the client to surrender two annuities, sold to the client by another firm, in order to purchase two Guaranteed Lifetime Income Annuities (GLIAs) issued by Bankers Life and Casualty Company (BLC), an insurance company affiliate of the Firm in December of 2018 . Client stated that BLC refunded the entire amount used to purchase the BLC GLIAs in September of 2019, but that once the client reinvested into new annuities with another outside institution, he lost many of the features of the previously held annuities and the policies provided less income and the client suffered lost opportunity damages. While the GLIAs sold to client were not securities and were issued by BLC, the Firm is reporting this arbitration because the source of funding for the GLIAs came from the sale of securities recommended by a registered representative of the Firm.

Broker Joshua Sievers in Bankers Life Securities, INC. Firm Has Customer Complaint

February 7, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joshua Sievers (Sievers), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Sievers recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $36,325.56 on December 05, 2025.

Bankers Life Securities, Inc. (BLS) received a complaint on December 5, 2025. In the complaint, the client alleged that the terms of an annuity purchased through the firm's insurance affiliate, Bankers Life and Casualty Company (BLC), were misrepresented, specifically regarding the surrender period and associated penalties. The client expressed dissatisfaction with the service and annuity performance and requested that the surrender penalty be waived. While the BLC annuities are not securities and were issued by BLC, the Firm is reporting this complaint because the annuities were funded by the recommendation to liquidate securities by a financial representative of the Firm.

Broker Mark Feliciano in Bankers Life Securities, INC. Firm Has Customer Complaint

January 28, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mark Feliciano (Feliciano), currently associated with Bankers Life Securities, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Feliciano recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on August 10, 2021.

In a written complaint, dated March 11, 2021, addressed to Bankers Life and Casualty Company (BLC) an affiliated insurance company, clients expressed dissatisfaction with the performance of the Bonus Indexed Annuities (PBIAs) purchased from BLC in November of 2019. BLC denied the complaint based on the performance of the PBIAs as consistent with the client’s allocation decisions. On August 10, 2021, clients requested reconsideration of BLC’s determination. BLC determined to settle with the clients for $25,000, although the annuities were suitable at the time they were sold. The financial representative did not contribute nor was he asked to contribute to the settlement with this complainant. The complainants previously filed a separate complaint as to this financial representative involving different issues, but as the settlement was over $15,000 required a separate disclosable filing. While the annuities sold to the clients are not securities and were sold by BLC, the Firm is reporting this complaint because the source of funding for the BLC annuities recommended by a financial representative of the Firm.

Broker Primo Bushati in Bankers Life Securities, INC. Firm Has Customer Complaint

January 28, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Primo Bushati (Bushati), currently associated with Bankers Life Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Bushati recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $179,000.00 on August 11, 2021.

The Firm received a letter, dated August 5, 2021, from an attorney representing clients of the Firm, addressed to Bankers Life and Casualty Company (BLC), an insurance company affiliate of the Firm and the Florida Department of Financial Services. The letter was sent in response to BLC’s disposition of a previous complaint in which BLC found the clients’ allegations to be without merit and denied the clients’ request for reimbursement and cancellation of annuities purchased from BLC. The August 5th letter reiterates prior allegations and includes new allegations that a Financial Representative (FR) of the Firm used a withdrawal request, previously signed by the client, in order to process another withdrawal from the client’s BLC fixed annuity, requested later the same year. The letter does not allege that the FR used the previously signed form in order to cause any harm to the client. The FR acknowledged his use of a previously-signed form in order to process the withdrawal request, but claimed he did so in order to satisfy an urgent need of the client for funds at a time when the client was inaccessible due to the COVID-19 pandemic and the client residing in a nursing home. BLC settled the complaint by releasing the clients from their annuities with a return of principal and waiver of $96,960 in surrender fees. Allegation Activity Date From December 1, 2019. Allegation Activity Date To August 11, 2021.